The significant recovery amongst hotels during 2010 can be largely attributed to the buoyant London market, according to Hotel Britain 2011, the guide to UK hotel performance and prospects from hotel accountants and consultants PKF (UK). The report reviews the performance of 549 hotels, representing 92,117 rooms, across London and the regions.
Countrywide, England and Scotland achieved rooms yield growth of 3.6% and 1.5% respectively while Wales was down 0.7% owing to an annual drop in occupancy of 0.7%.
Looking to the future, Hotel Britain 2011 predicts continued uncertainty for the UK hotel market with much depending on the outcome of wider global issues such as increasing oil prices, economic and financial scepticism, and events in the Middle East, North Africa and Japan. In 2010, occupancy levels across the UK increased by 2.6% year-on-year, to 74.5%.
In London, occupancy for the same period rose by 1.6% to 82.6% and in the regions by 3.1% to 70.5%.
Average achieved room rate (AARR) in London rose by 10.6% to £144.14 in 2010, compared with 2009, but was down by 0.9% in the regions to £69.56.